Mitchell Group Has Increased Weatherford International Plc Ord (WFT) Stake; Cadence Design Systems (CDNS) Sentiment Is 1.09

December 7, 2017 - By Nellie Frank

Cadence Design Systems, Inc. provides electronic design automation software, emulation and prototyping hardware, system interconnect, and analysis worldwide. The company has market cap of $12.11 billion. It offers functional verification, including emulation and prototyping hardware. It has a 46.73 P/E ratio. The Company’s functional verification offering consists of JasperGold, a formal verification platform; Incisive, a functional verification platform; and Palladium, a verification computing platform.

Mitchell Group Inc increased Weatherford International Plc Ord (WFT) stake by 1.96% reported in 2017Q2 SEC filing. Mitchell Group Inc acquired 101,620 shares as Weatherford International Plc Ord (WFT)’s stock declined 8.25%. The Mitchell Group Inc holds 5.28 million shares with $20.44 million value, up from 5.18M last quarter. Weatherford International Plc Ord now has $3.32 billion valuation. The stock decreased 2.91% or $0.1 during the last trading session, reaching $3.34. About 18.88M shares traded. Weatherford International plc (NYSE:WFT) has risen 2.15% since December 7, 2016 and is uptrending. It has underperformed by 14.55% the S&P500.

The stock increased 0.54% or $0.23 during the last trading session, reaching $42.9. About 2.09 million shares traded. Cadence Design Systems, Inc. (CDNS) has risen 37.90% since December 7, 2016 and is uptrending. It has outperformed by 21.20% the S&P500.

Since January 1, 0001, it had 0 buys, and 1 insider sale for $3.40 million activity.

40 North Management Llc holds 21.78% of its portfolio in Cadence Design Systems, Inc. for 4.54 million shares. Copper Rock Capital Partners Llc owns 1.29 million shares or 2.08% of their US portfolio. Moreover, Alkeon Capital Management Llc has 1.54% invested in the company for 5.71 million shares. The Kentucky-based Alphamark Advisors Llc has invested 1.49% in the stock. Arrowmark Colorado Holdings Llc, a Colorado-based fund reported 3.60 million shares.

Ratings analysis reveals 33% of Cadence Design’s analysts are positive. Out of 3 Wall Street analysts rating Cadence Design, 1 give it “Buy”, 1 “Sell” rating, while 1 recommend “Hold”. CDNS was included in 3 notes of analysts from October 19, 2016. The rating was downgraded by JP Morgan to “Underweight” on Monday, December 12. Credit Suisse initiated the shares of CDNS in report on Wednesday, October 19 with “Neutral” rating. RBC Capital Markets maintained Cadence Design Systems, Inc. (NASDAQ:CDNS) on Thursday, February 9 with “Outperform” rating.

Analysts await Cadence Design Systems, Inc. (NASDAQ:CDNS) to report earnings on February, 7. They expect $0.27 earnings per share, up 92.86% or $0.13 from last year’s $0.14 per share. CDNS’s profit will be $76.24 million for 39.72 P/E if the $0.27 EPS becomes a reality. After $0.29 actual earnings per share reported by Cadence Design Systems, Inc. for the previous quarter, Wall Street now forecasts -6.90% negative EPS growth.

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